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Gene Logic to reprofile Organon compounds

April 22, 2006 12:56 AM UTC

GLGC will use its Drug Repositioning Program to reprofile undisclosed Organon compounds that were discontinued in Phase II or III testing. If new therapeutic uses are discovered, both companies will become equal owners and may jointly develop and commercialize the compound. GLGC will receive milestones for each compound that Organon selects for clinical development.

GLGC completed similar deals with Pfizer (PFE) and Roche (SWX:ROCZ) in the second half of last year. Organon is a subsidiary of Akzo Nobel (Euronext:AKZ; AKZOY), and is being spun out by the parent company. ...